State and Federal Compliance

Advertising

Management must approve all advertising.
The Company will follow the advertising rules in accordance
with Regulation Z and any requirements of related state regulations.
In addition, the company does not discriminate against any applicant
or discourage an applicant from making a loan application
for any prohibited reason.
All advertising will meet this policy when being developed.

Good Faith Estimates/Mortgage Loan Disclosure Statement

Real Estate Settlement Procedures Act (RESPA)
requires a lender or mortgage broker
to give advance disclosure of settlement costs to the borrower.
The following paragraph describes the requirements
to follow in preparing the good faith estimate.

Prepare the information for RESPA good faith estimates (GFE)
along with any state mandated separate disclosure, if applicable,
and print or reproduce the HUD booklet,
Shopping for Your Home Loan; HUD's Settlement Cost Booklet,
for every loan that is used to finance the purchase
of the mortgaged property,
is secured by a first mortgage on real property
with one to four residential units, and is federally related.
Prepare a GFE and any required state mandated separate fee disclosure
for the range of charges for specific settlement services
the applicant is likely to incur in connection with the settlement
based on our experience with settlements in the area
where the property is located
including disclosure of all fees to be paid to our company
including rebate fees from the lenders.
Be sure the GFE and any state mandated separate fee disclosure
includes all of the required statements
indicating that these are estimates
and may not include all items required to be paid at settlement.
If, prior to settlement of the loan transaction,
there is a significant change in the terms of the loan
including the fees to be paid on the loan,
prepare a new GFE and state mandated separate fee disclosure
and obtain date and signatures by the borrowers.

ARM Disclosures

Regulation Z requires that the lender provide information
about adjustable rate mortgage (ARM) loans to the prospective borrower.
These consist of the Consumer Handbook
and specifics about the particular ARM program.
The following paragraph describes the requirements
CU HomeLand Corp. (CUHL)
and American Pacific Mortgage Corporation (APM)
must follow to prepare these disclosures.

The ARM disclosures include the
Consumer Handbook on Adjustable Rate Mortgages
or a suitable substitute
and our loan program disclosure for each ARM program
in which the applicant expresses an interest.
CU HomeLand Corp. and American Pacific Mortgage Corporation disclosures to the applicant fully and separately describe our ARM loan programs.
This disclosure of the ARM loan programs should be complete
to include the interest rate, indices and the margin used to calculate
the interest rate, increases and decreases in the interest rate and payment,
frequency of change, adjustment caps, negative amortization,
conversion options, etc.
Be sure to provide examples of how the payments and loan balance
are affected by the changes in the loan program.
Secure a signed disclosure that this has been accomplished.

Home Value Code of Conduct

Effective May 1, 2009, CUHL / APM has a strict appraisal ordering process
which is mandatory for all loan production staff - no exceptions.
The purpose of this process is to ensure compliance
with both the letter and the spirit of the
Home Valuation Code of Conduct (HVCC).
Important points of the CUHL / APM appraisal ordering process include the following:

More Compliance

Thank you for your interest
in our mortgage and real estate services!
We are dedicated to helping you achieve your goals for your new home loan.
We will be here every step of the way to help you,
and if there is anything we can assist you with along the way,
please let us know.
Our goal is to serve you!

Mortgage loan data may be collected,
processed and underwritten by our partner
CU HomeLand Corp./American Pacific Mortgage Corporation.
Loans may or may not be funded by the Credit Union.
Rates are subject to change without notice.
We do business in accordance with
the Federal Fair Housing Law and Equal Credit Opportunity Act.